Codrus Minerals Commences Red Gate RC Drilling Program

THE DRILL SERGEANT: Codrus Minerals (ASX: CDR) announced commencement of a major new phase of Reverse Circulation (RC) drilling at the company’s 100 per cent-owned Red Gate gold project in Western Australia.

Codrus Minerals explained the new phase of drilling is designed to further unlock the geological potential of the Red Gate project while reflecting the company’s commitment to comprehensively define the scale of the mineralised system that has been identified to date.

The company considers the project to have potential to host both wide, higher-grade and lower-grade zones of mineralisation, with mineralisation widely distributed across all of the key prospects it has tested to date, and in particular at the Porphyry West and Porphyry North.

“We are excited that drilling is once again underway at Red Gate, building on the excellent outcomes of the initial drilling we completed earlier this year,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.

“While our geological understanding of the project is still developing, we know that it has potential to host two distinct styles of mineralisation, which we believe reflects the potential for a much larger system.

“We have seen both broader, high-grade zones and broader, lower grade zones, pointing to a significant level of gold endowment across the project.

“This next program is designed to give us a much clearer handle on how to vector into the higher-grade zones while expanding the overall mineralised envelope.

“Success during this program would pave the way for us to design potential resource definition programs.

“Given its location in a very active gold mining district, any ounces that we define will add significant strategic value for the company given their proximity to several major operating mills.”